Disney reported third-quarter earnings that beat analyst estimates for revenue and earnings per share. Disney's combined streaming services of Disney+, Hulu, and ESPN+ turned a profit for the first time, beating earlier guidance of achieving profitability in the fourth quarter. Revenue for Disney's entertainment segment grew 4% due to subscription revenue growth from price increases and customer growth. Traditional TV network's revenue fell by 7%. Revenue for Disney's domestic parks fell 6% due to higher costs from inflation and increased spending. International parks revenue rose 2%.
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00:00It's Benzinga, and here's what's on the block.
00:03Disney reported third-quarter earnings that beat analysts' estimates for revenue and
00:06earnings per share.
00:08Disney's combined streaming services of Disney+, Hulu, and ESPN Plus turned a profit for the
00:12first time, beating earlier guidance of achieving profitability in the fourth quarter.
00:17Revenue for Disney's entertainment segment grew 4 percent due to subscription revenue
00:20growth from price increases and customer growth.
00:24Traditional TV networks' revenue fell by 7 percent.
00:27Revenue for Disney's domestic parks fell 6 percent due to higher costs from inflation
00:30and increased spending.
00:32International parks' revenue rose 2 percent.
00:34For all things money, visit Benzinga.com.